Here are the SPY ETF morning trade notes and intraday support and resistance levels for the SPY ETF Hedge Portfolio for Fri Feb 3 2023 following a second large move higher for the SPX on Thursday. The SPX is now at the highest level since late August 2022.
Remember I take profits as they appear, as markets are very volatile and profits can disappear quickly. I stay with option strikes that have plenty of volume. If taking a loss I keep them small.
Not all strategies are suitable for all investors. Trading the SPY ETF intraday can be difficult and end with losses. This type of trading is for very active investors who love intraday trading. Make sure to paper trade to learn the strategy and determine its suitability for use, before risking actual capital.
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